Unit Corporation Extends Early Tender Date for Exchange Offer

Tulsa-based Unit Corporation announced that it has extended the early tender date for its previously announced offer to exchange its outstanding 6.625% Senior Subordinated Notes due 2021 (CUSIP No. 909218AB5 / ISIN US909218AB56) for newly issued 10.000% Senior Secured Notes due 2024 and 7.000% Junior Secured Notes due 2025, according to a company press release issued on November 25, 2019.

The Company is extending the early tender date of the Exchange Offer. The early tender date was previously 5:00 p.m. EST on Monday, November 25, 2019 and will now be 5:00 p.m. EST on Friday, November 29, 2019, unless further extended. As of 5:00 p.m. EST on November 25, 2019, approximately $160 million of old notes had been tendered in the exchange offer.

The Company will pay a soliciting dealer fee equal to $2.50 for each $1,000 principal amount of old notes validly tendered for exchange and not validly withdrawn under the exchange offer to retail brokers that are appropriately designated by their clients to receive this fee; provided that such fee will only be paid with respect to the first $200,000 aggregate principal amount of old notes exchanged by an individual beneficial holder.

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